Bank of New York Mellon Corp Decreases Stake in Seaboard Corporation (NYSEAMERICAN:SEB)

Bank of New York Mellon Corp cut its holdings in shares of Seaboard Corporation (NYSEAMERICAN:SEB) by 6.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,877 shares of the company’s stock after selling 120 shares during the quarter. Bank of New York Mellon Corp owned 0.19% of Seaboard worth $5,061,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC raised its position in Seaboard by 201.4% during the 4th quarter. Millennium Management LLC now owns 2,933 shares of the company’s stock worth $7,126,000 after buying an additional 1,960 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Seaboard by 9.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 265 shares of the company’s stock worth $644,000 after buying an additional 22 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Seaboard by 67,325.0% during the 1st quarter. GAMMA Investing LLC now owns 2,697 shares of the company’s stock valued at $7,274,000 after purchasing an additional 2,693 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Seaboard by 1.3% during the 1st quarter. Rhumbline Advisers now owns 943 shares of the company’s stock valued at $2,543,000 after purchasing an additional 12 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Seaboard by 37.0% during the 4th quarter. Deutsche Bank AG now owns 37 shares of the company’s stock valued at $90,000 after purchasing an additional 10 shares in the last quarter. 22.57% of the stock is owned by hedge funds and other institutional investors.

Seaboard Price Performance

NYSEAMERICAN:SEB opened at $3,108.38 on Friday. The company has a 50 day moving average price of $2,826.69 and a 200-day moving average price of $2,659.78. Seaboard Corporation has a 1-year low of $2,365.00 and a 1-year high of $3,300.00. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 30.80 and a beta of 0.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.52 and a quick ratio of 1.46.

Seaboard announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Seaboard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Thursday, May 8th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, May 8th. This represents a $9.00 annualized dividend and a yield of 0.29%. Seaboard’s dividend payout ratio (DPR) is presently 9.93%.

Seaboard Company Profile

Seaboard Corporation, together with its subsidiaries, operates as an agricultural and ocean transportation company worldwide. It operates through six segments: Pork, Commodity Trading and Milling (CT&M), Marine, Sugar and Alcohol, Power, and Turkey. The Pork segment produces and sells pork products to further processors, food service operators, grocery stores, and distributors; hogs; and biodiesel.